Under pressure from the White House and troubling inflation reports, the Federal Reserve Board voted to reduce its target lending rate by a quarter-point to 4% to 4.25%. +

The governors of the Federal Reserve have decided to maintain a target lending rate of 4.25% to 4.5% for a fifth consecutive meeting under mounting White House pressure. +

The Federal Reserve maintained its 4.25% to 4.5% target rate for a fourth consecutive meeting, but the board remains committed to making two quarter-point cuts or one half-point cut by year’s end. +

Chairman Jerome Powell says the Federal Reserve will not reduce its target lending rate, holding at 4.25% to 4.5% as evolving economic and trade policies make future conditions difficult to predict. +

The Federal Reserve Board’s first meeting of 2025 ended with its target lending rate unchanged as the agency pursues its “dual mandate” to limit inflation and unemployment. +

Chairman Jerome Powell said interest rate reductions would slow next year while announcing an expected quarter-point cut to end 2024 with a target range of 4.25% to 4.5%. +